398 - 400 Nepean Highway, Frankston, Vic 3199

Stonebridge Property Group is pleased to present for sale 398-400 Nepean Highway, Frankston.

The property is an expansive 3,223 sqm* landholding situated at the gateway to Frankston’s Activity Centre. Recently upgraded to Activity Centre Zone, it offers flexible development potential for residential, childcare, commercial, accommodation, aged care, or a mixed-use offering (STCA).

Key highlights of the opportunity include:

- Commanding 3,223 sqm* landholding at the gateway to Frankston Activity Centre

- Recently rezoned to Activity Centre (ACZ), offering flexible development potential for residential, accommodation, retail, office, aged care, or childcare uses (STCA)

- Rezoning forms part of the Victorian Government’s Major Activity Centre strategy, supporting enhanced planning outcomes and a more streamlined approval process (STCA)

- Exceptional retail amenity just 150 m* from Bayside Shopping Centre, anchored by Coles, Woolworths, and Kmart, as well as the broader Frankston Activity Centre, home to Chemist Warehouse, Dan Murphy’s, and a variety of prominent retail and dining destinations

- Major infrastructure nearby includes Monash University’s Peninsula Campus (1.8 km*) and Frankston Hospital (1.3 km*)

- Frankston offers exceptional lifestyle amenity, adjoining the scenic Kananook Creek and walking trails, moments from Frankston Beach (200 m*), Frankston Pier (1.1 km*) and Peninsula Aquatic and Recreation Centre (800 m*)

- Located just 600 m* away from Frankston Train Station which offers exceptional connectivity to Metropolitan Melbourne, a rare convenience on the Mornington Peninsula

- Surrounded by leading educational institutions including Frankston Primary School (1 km*), St Francis Xavier School (1.2 km*), John Paul College (1.3 km*), and Monash University (1.8 km*)

- Frankston is emerging as the primary economic hub of Melbourne’s Mornington Peninsula, supported by a 20-year Activity Centre vision that promotes significant development***. This growth is underpinned by the $1.1 billion Frankston Hospital redevelopment**, the major upgrade of Bayside Shopping Centre^, and the recent completion of Castlerock’s $49 million office building^^. 

- A proven development hotspot, with leading developers such as Pace, Urban DC, Orion, and Castlerock active in the immediate area, capitalising on the location’s amenity and beachside appeal

- Frankston’s median house price of $735,000* presents an accessible and compelling opportunity within Melbourne’s current market

- Strong underlying retail metrics at this location, with a Total Retail Spend of $603 million within a 3km radius^^^

398-400 Nepean Highway, Frankston is offered for sale via Expressions of Interest closing Thursday 12th June 2025 at 2PM (AEST). To obtain further information, or to arrange an inspection, please contact the exclusive selling agents. 

*Approximate

Stonebridge Property Group:

Andrew Milligan
+61 421 559 992

Lucas Duffy
+61 417 596 560

Chao Zhang 张超
0411625068

***Frankston City Council (2024)

**Victoria State Government (2025)

^ Vicinity (2025)

^^Castlerock (2025)


^^^ Location IQ (2025)

 *Approximately

Property Code: 1285